REGISTERED NUMBER: 04294444 (England and Wales)

Financial Statements

for the Year Ended 30 September 2024

for

K M R Haulage Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R T Cooper

REGISTERED OFFICE:

140 Rayne Road

Braintree

Essex

CM7 2QR

BUSINESS ADDRESS:

The Old Barn

Hawkspur Green

Little Bardfield

Braintree

Essex

CM7 4SH

REGISTERED NUMBER:

04294444 (England and Wales)

ACCOUNTANTS:

Baverstocks Group Limited

140 Rayne Road

Braintree

Essex

CM7 2QR

FIXED ASSETS

Tangible assets

4

205,696

248,435

CURRENT ASSETS

Stocks

45,200

38,650

Debtors

5

193,004

283,672

Cash at bank and in hand

34,178

18,160

272,382

340,482

CREDITORS

Amounts falling due within one year

6

830,977

774,178

NET CURRENT LIABILITIES

(558,595

)

(433,696

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(352,899

)

(185,261

)

CREDITORS

Amounts falling due after more than one year

7

23,384

54,408

NET LIABILITIES

(376,283

)

(239,669

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(376,383

)

(239,769

)

SHAREHOLDERS' FUNDS

(376,283

)

(239,669

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 February 2025 and were signed by:

R T Cooper - Director

1.	STATUTORY INFORMATION

K M R Haulage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the invoiced value of work done and charges made excluding value added tax as appropriate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant & equipment

-

25% on reducing balance

Motor vehicles

-

see note below

Office & computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Motor vehicles depreciation

The motor vehicles are depreciated at 20% on reducing balance from 1 October 2018. The previous depreciation rate was 25% on reducing balance.

Going concern

The accounts have been prepared under the going concern concept. The accounts show that this may not be appropriate because as as at 30 September 2024 there was a deficit on the retained earnings of the company of £376,383. The former director and company shareholder (Mrs C A Cooper) has a loan account with the company shown within creditors due within one year amounting to £204,349 and she has stated that she has no plans to withdraw this loan and will continue her financial support of the company.

If the company was unable to continue to trade and was not a going concern at the balance sheet date then certain assets would need to be written down to their recoverable amount and additional liabilities may need to be provided for in the accounts.The deficit on the retained earnings of the company exceeds the loan from Mrs C A Cooper by £172,034 at the Balance Sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Office &

to

Plant &

Motor

computer

property

equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2023

79,636

39,589

1,310,294

4,003

1,433,522

Additions

-

9,851

-

-

9,851

At 30 September 2024

79,636

49,440

1,310,294

4,003

1,443,373

DEPRECIATION

At 1 October 2023

76,318

16,684

1,089,019

3,066

1,185,087

Charge for year

663

7,440

44,252

235

52,590

At 30 September 2024

76,981

24,124

1,133,271

3,301

1,237,677

NET BOOK VALUE

At 30 September 2024

2,655

25,316

177,023

702

205,696

At 30 September 2023

3,318

22,905

221,275

937

248,435

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2023

and 30 September 2024

168,600

DEPRECIATION

At 1 October 2023

78,580

Charge for year

18,084

At 30 September 2024

96,664

NET BOOK VALUE

At 30 September 2024

71,936

At 30 September 2023

90,020

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

158,761

252,004

In account - Eastern Coopers

Limited

12,970

11,926

Prepayments

21,273

19,742

193,004

283,672

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,044

Other loans

204,349

264,549

Reward Finance Group Loan

230,587

118,743

Hire purchase contracts (see note 8)

21,836

33,985

Trade creditors

108,911

93,946

Social security and other taxes

231,742

228,938

Other creditors

18,643

20,023

Accrued expenses

4,909

3,950

830,977

774,178

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

6,667

10,128

Bank loans - 2-5 years

-

6,492

Hire purchase contracts (see note 8)

16,717

37,788

23,384

54,408

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Gross obligations repayable:

Within one year

27,113

40,327

Between one and five years

24,408

51,522

51,521

91,849

Finance charges repayable:

Within one year

5,277

6,342

Between one and five years

7,691

13,734

12,968

20,076

Net obligations repayable:

Within one year

21,836

33,985

Between one and five years

16,717

37,788

38,553

71,773

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

38,553

71,773

The bank overdraft is secured by a charge on the director's property.

The hire purchase creditor is secured on the company's motor vehicles.

10.	RELATED PARTY DISCLOSURES

The former director and shareholder of the company, Mrs C A Cooper, is also a director and shareholder in Eastern Coopers Limited .

There is a trade debt due to Eastern Coopers Limited of £59,800 at the Balance Sheet date.

There is an inter-company loan balance shown within debtors due within one year due from Eastern Coopers Limited amounting to £12,970 at the Balance Sheet date. No interest is charged on this loan.